Why Is A Lifestyle Downgrading So Hard?

Mantsha Pheeha, Author and Certified Coach talks about Abantu bazothini leading you to financial ruin? 5 tips to help you conquer fears of downgrading

Why are we so scared of what people will think or say about us if we drive a Corolla instead of a Porsche Cayenne — and live in Westonaria instead of Waterfall?

Why does the ‘Abantu Bazothini’ syndrome wield so much power over us?

“The problem is that some people don’t pluck up enough courage to downgrade as they see this move as too ‘humiliating’ for them. Pride gets in the way. I’m sorry to say, but pride comes before the fall and it takes you ten steps back,” writes Money Psychologist and columnist, Winnie Kunene, in one of her blog posts.

South Africa’s favourite #FinancialFitnessBunny, Nicolette Mashile, weighs in with another angle.

“If you come from a background where you’ve been a ‘have-not’ for a very long time, downgrading your lifestyle is difficult because you almost feel like you’ve graduated from ‘the struggle’ and you’re in a different space. So, the thought of downgrading hits hard; it’s a psychological and personal journey that one didn’t think they would need to go through,” says Mashile, a social entrepreneur, TV host and financial speaker.
23 Jan 2PM English South Africa Business News · Investing

Other recent episodes

How Kauai became the SA’s largest first quick service restaurant

GUEST – Geli Briolas, COO of Kauai They were the first quick service restaurant (QSR) to introduce health-conscious smoothies to South Africa and, Kauai has gone on to now sell more than 7 million smoothies annually since their launch in 1995. Based on the notion that healthy eating is not…
30 Nov 3PM 9 min

RAF prevents R2.6bn in fraudulent claims over past three years

GUEST – McIntosh Polela - RAF spokesperson The Road Accident Fund (RAF) says it has managed to clamp down on fraudulent claims of over R2.6 billion over the last three financial years. This achievement is a result of the sterling work done by the fund's Forensic Investigation Department. RAF spokesperson…
30 Nov 3PM 8 min

EasyEquities Group now servicing 2.06 million clients.

EASYEQUITIES GROUP HIGHLIGHTS • EasyEquities Group revenue increased by 11.1% to R237.8 million, from R214.0 million in the prior year; • Registered clients increased by 18% to 2.06 million, compared to 1.75 million in the prior year; • Active clients increased by 17.5% to 897,940, compared to 763,907 in the…
30 Nov 3PM 10 min